Wednesday, February 9, 2011

NIFTY NEXT- Nifty EOD 09 Feb 2011 Technical Analysis


Nifty-Spot today Traded with huge Volatility and ends at 5253.55 down by -1.1%.It breaks our support level  on intraday  basis of 5273 after hitting our Higher level of 5325.It formed a Black Candle on Daily price chart. Major Technical Indicators are in Bearish Zone. As per Volatility Skew of Nifty Options, it is Increasing for PUTs & Declining for CALLs, suggest a Bearish Trading session for Nifty on 10 Feb 2011. Nifty has now strong support at 5138 and Bullishness can be seen after 5310.

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